No irregularities in accounts of IPL teams: Govt

August 16, 2010 16:14 IST

The government on Monday clarified that accounting regulator ICAI hasn't reported any irregularity in the account books of some Indian Premier League teams.

"The Institute of Chartered Accountants of India (ICAI) has not reported any irregularities in the accounts and violations of auditing norms by some Indian Premier League (IPL) teams," Corporate Affairs Minister Salman Khurshid told the Rajya Sabha.

The ICAI had begun scrutinising financial statements of the eight functional teams for possible violation of auditing norms, following the controversy relating to sweat equity in the Kochi team to a friend of the then Union Minister Shashi Tharoor.

Tharoor had later resigned as Union Minister of State for External Affairs over the allegations that he had influenced decisions regarding sweat equity to his friend Sunanda Pushkar.

Tax and other enforcement authorities, besides the Ministry of Corporate Affairs, have since then launched probe to trace the finances in the Twenty-20 cricket league IPL and its franchisees.